Goldman Sachs and HSBC are said to be advising the firm, which announced earlier this year that it was looking into a float.

A TMF Group spokesperson said: “As announced on 30 March 2017, TMF Group is reviewing its strategic and financial options. As part of this review, the possibility of an initial public offering is being considered alongside a number of routes, although no decision has yet been taken in this regard.”

TMF Group provides business critical services such as accounting, tax, corporate secretarial, HR and payroll. The Dutch firm was initially reported to be considering an IPO in either London or Amsterdam.

It is thought by City sources that the business’s resilient business model would leave it relatively unaffected by any post-Brexit uncertainty in the London market. Its client retention levels are typically around 90 per cent.

It could also benefit from increased demand for its services in the event that Brexit makes regulation and tax more complicated, or to provide assistance for firms moving out of the City to new bases in Dublin or Frankfurt.